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Aluminum Carbide Market - Global Opportunity Analysis and Industry Forecast, 2020–2027
| A10773 | Pages: NA | Jun 2021 | 36 Views | | |
| Author(s) : Eswara Prasad | Tables: NA | Charts: NA | Formats*: | |
COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Aluminum Carbide Market
Request Now !Aluminum carbide is a type of saline carbide that is categorized under the methanides group. It is a plain yellow or brown colored crystal chemical compound that gets decomposed in water by producing methane. Aluminum carbide is produced by the direct reaction of carbon and aluminum in a furnace. Aluminum carbide possesses high mechanical strength that makes it suitable to be used as abrasives and cutting tools in different industries. Aluminum carbide is used for different purposes such as cutting, drilling, metal fabrication, chamfering, engraving, grooving, polishing & lapping, and so on. Other end-use applications of aluminum carbide include construction, transportation, electrical, machinery, and others.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD) |
Segments covered | Application, End-use Industry and Region |
Geographies covered | North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), LAMEA |
Companies covered | Mitsubishi Materials Corporation, Rock River Tool, Advent Tool & Manufacturing, PROMAX Tools, Garr Tool, Tunco Manufacturing, Global Excel Tools Manufacturing, Ingersoll Cutting Tool Company, Best Carbide Cutting Tools, Vora Industries, CERATIZIT, SGS Tool, Sandvic, Kennametal Foundation, BIG KAISER, NACHI-FUJIKOSHI. |
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic severely affected the global aluminum carbide market.
- Since the outbreak of the global pandemic, most of the construction projects across the globe have come to a halt since there was a significant lack of workforce. This has resulted in a steep decline in demand for aluminum carbide in the construction sector.
- Moreover, because of the nationwide lockdowns imposed by the government, most of the industries had to stop their business operations temporarily. As a result, the demand for industrial machinery and electrical equipment for applications like metal fabrication and others decreased and are thereby affecting the demand for the aluminum carbide market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
One of the major factors responsible for driving the demand for aluminum carbide market is its extensive use as abrasives among different end-use industries such as construction industry, machinery, grooving and others. The compound has a wide range of applications including grinding, buffing, polishing, and drilling. Moreover, there are several other mechanical applications of aluminum carbide such as metal fabrication and chamfering. Apart from being used as abrasives, aluminum carbide is also employed as a reducing agent to reduce the creeping or deforming tendency of aluminum when exposed to stress for long time. On the other hand, aluminum carbide is also used in the electronic sector as finely dispersed particles in aluminum matrix. Thus, the growing electronics sector is expected to witness an increase in demand for aluminum carbide market. The wide array of applications of aluminum carbide is expected to drive the demand in the near future. However, the fluctuating prices of the raw materials and high R&D costs associated with aluminum carbidemay act as a restraining factor for the market.
The market in the Asia-Pacific region accounts for a significant share of the global aluminum carbide market because of its high demand in the electronics and construction sectors. The market in Europe and North America region is also expected to witness lucrative growth owing to the growing metal fabrication and construction industries in the developed nations.
Key segments covered:
Segments | Sub-segments |
Application |
|
End-Use Industry |
|
Key benefits of the report:
- This study presents the analytical depiction of the global aluminum carbide industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global aluminum carbide market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global aluminum carbide market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global aluminum carbide market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the aluminum carbide market research report:
- Which are the leading market players active in the aluminum carbide market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
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